Global Trustee and Fiduciary Services Bite-Sized Issue 2 2024

Global Trustee and Fiduciary Services Bite-Sized | Issue 2 | 2024 14 QUICK LINKS AIFMD ANTI-MONEY LAUNDERING CBDC CRYPTOASSETS CYBERSECURITY FINTECH FSB IOSCO MIFID II/MIFIR OPERATIONAL RESILIENCE SUSTAINABLE FINANCE/ESG ASIA EUROPE LUXEMBOURG NETHERLANDS NORTH AMERICA UNITED KINGDOM HKMA and the PBoC Announce Measures to Deepen the Financial Cooperation Between Hong Kong and the Mainland On 24 January 2024, the Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBoC) announce six policy measures to deepen the financial cooperation between Hong Kong and the Mainland, including: 1. Expanding the list of eligible collateral for the HKMA’s RMB Liquidity Facility to include RMB bonds issued onshore by the Ministry of Finance of the People’s Republic of China and the policy banks of the People’s Republic of China; 2. Further opening up the onshore repurchase agreement (repo) market to all foreign institutional investors (including Bond Connect investors) that already have access to the China Interbank Bond Market; 3. Releasing the amendments to the Implementation Arrangements for the Cross-boundary Wealth Management Connect Pilot Scheme in the Guangdong-Hong Kong-MacaoGBA; 4. Implementing facilitative measures on the remittances for property purchase by Hong Kong and Macao residents in the Mainland cities in the GBA; 5. Promoting the collaboration on cross-boundary credit referencing to facilitate corporates’ cross-boundary financing activities; 6. Expanding the cross-boundary e-CNY pilots in Hong Kong Link to Press Release here Link to the Amendments to the Implementation Arrangements for the Cross-boundary Wealth Management Connect Pilot Scheme in the Guangdong-Hong Kong-Macao GBA here SFC Sets Out Three-year Strategic Priorities On 23 January 2024, the SFC released its Strategic Priorities for 2024-2026, setting out its approach to developing Hong Kong’s securities markets, addressing risks and protecting investors. Recognising the shifts in capital market conditions and the challenges brought about by the evolving global landscape as well as technological advances, the SFC is committed to continuing to facilitate market development as well as safeguarding the integrity and quality of the Hong Kong markets. In the coming three years, the SFC will strive to: • Maintain market resilience and mitigating serious harm to our markets; • Enhance the global competitiveness and appeal of the Hong Kong capital markets; • Lead financial market transformation through technology and ESG; and • Enhance institutional resilience and operational efficiency. Link to SFC Strategic Priorities here